84 Bankruptcy of defendant etc.E+W
(1)Where a person who holds realisable property is adjudged bankrupt—
(a)property for the time being subject to a restraint order made before the order adjudging him bankrupt, and
(b)any proceeds of property realised by virtue of section 77(8) or 80(5) or (6) above for the time being in the hands of a receiver appointed under section 77 or 80 above,
is excluded from the bankrupt’s estate for the purposes of Part IX of the M1Insolvency Act 1986.
(2)Where a person has been adjudged bankrupt, the powers conferred on the High Court by sections 77 to 81 above or on a receiver so appointed or on the Court of Session by sections 90 to 92 below shall not be exercised in relation to—
(a)property for the time being comprised in the bankrupt’s estate for the purposes of that Part of that Act;
(b)property in respect of which his trustee in bankruptcy may (without leave of court) serve a notice under section 307 [F1308 or 308A] of that Act (after-acquired property and tools, clothes, etc. exceeding value of reasonable replacement) [F2and certain tenancies]; and
(c)property which is to be applied for the benefit of creditors of the bankrupt by virtue of a condition imposed under section 280(2)(c) of that Act.
(3)Nothing in that Act shall be taken as restricting, or enabling the restriction of, the exercise of those powers.
(4)Subsection (2) above does not affect the enforcement of a charging order—
(a)made before the order adjudging the person bankrupt; or
(b)on property which was subject to a restraint order when the order adjudging him bankrupt was made.
(5)Where, in the case of a debtor, an interim receiver stands appointed under section 286 of that Act and any property of the debtor is subject to a restraint order, the powers conferred on the receiver by virtue of that Act do not apply to property for the time being subject to the restraint order.
(6)Where a person is adjudged bankrupt and has directly or indirectly made a gift caught by this Part of this Act—
[F3(a)no order shall be made under section 339 or 423 of that Act (avoidance of certain transactions) in respect of the making of the gift at any time when—
(i)proceedings for an offence to which this Part of this Act applies have been instituted against him and have not been concluded;
(ii)an application has been made under section 74A, 74B or 74C above in respect of the defendant in any such proceedings and has not been concluded; or
(iii)property of the person to whom the gift was made is subject to a restraint order or charging order; and
(b)any order made under section 339 or 423 of that Act after the conclusion of the proceedings or application shall take into account any realisation under this Part of this Act of property held by the person to whom the gift was made.]
(7)In any case in which a petition in bankruptcy was presented, or a receiving order or adjudication in bankruptcy was made, before 29th December 1986 (the date on which the M2Insolvency Act 1986 came into force), this section shall have effect with the following modifications—
(a)for references to the bankrupt’s estate for the purposes of Part IX of that Act there shall be substituted references to the property of the bankrupt for the purposes of the M3Bankruptcy Act 1914;
(b)for references to the Act of 1986 and sections 280(2)(c), 286, 339 and 423 of that Act there shall be respectively substituted references to the Act of 1914 and to sections 26(2), 8, 27 and 42 of that Act;
(c)the references in subsection (5) to an interim receiver appointed as there mentioned include, where a receiving order has been made, a reference to the receiver constituted by virtue of section 7 of the Act of 1914; and
(d)subsection (2)(b) shall be omitted.
Extent Information
E1This version of this provision extends to England and Wales only; a separate version has been created for Scotland only.
Textual Amendments
F1Words substituted by Housing Act 1988 (c. 50, SIF 61), s. 140, Sch. 17 para. 83
F2Words inserted by Housing Act 1988 (c. 50, SIF 61), s. 140, Sch. 17 para. 83
F3S. 84(6)(a)(i)(ii)(iii)(b) substituted (E.W.) (1.11.1995) for s. 84(a)(b) by 1995 c. 11, s. 8(7); S.I. 1995/2650, art.2
Marginal Citations
84 Bankruptcy of defendant etc.S
(1)Where a person who holds realisable property is adjudged bankrupt—
(a)property for the time being subject to a restraint order made before the order adjudging him bankrupt, and
(b)any proceeds of property realised by virtue of section 77(8) or 80(5) or (6) above for the time being in the hands of a receiver appointed under section 77 or 80 above,
is excluded from the bankrupt’s estate for the purposes of Part IX of the M4Insolvency Act 1986.
(2)Where a person has been adjudged bankrupt, the powers conferred on the High Court by sections 77 to 81 above or on a receiver so appointed or on the Court of Session by sections 90 to 92 below shall not be exercised in relation to—
(a)property for the time being comprised in the bankrupt’s estate for the purposes of that Part of that Act;
(b)property in respect of which his trustee in bankruptcy may (without leave of court) serve a notice under section 307 [F4308 or 308A] of that Act (after-acquired property and tools, clothes, etc. exceeding value of reasonable replacement) [F5and certain tenancies]; and
(c)property which is to be applied for the benefit of creditors of the bankrupt by virtue of a condition imposed under section 280(2)(c) of that Act.
(3)Nothing in that Act shall be taken as restricting, or enabling the restriction of, the exercise of those powers.
(4)Subsection (2) above does not affect the enforcement of a charging order—
(a)made before the order adjudging the person bankrupt; or
(b)on property which was subject to a restraint order when the order adjudging him bankrupt was made.
(5)Where, in the case of a debtor, an interim receiver stands appointed under section 286 of that Act and any property of the debtor is subject to a restraint order, the powers conferred on the receiver by virtue of that Act do not apply to property for the time being subject to the restraint order.
(6)Where a person is adjudged bankrupt and has directly or indirectly made a gift caught by this Part of this Act—
(a)no order shall be made under section 339 or 423 of that Act (avoidance of certain transactions) in respect of the making of the gift at any time when proceedings for an offence to which this Part of this Act applies have been instituted against him and have not been concluded or when property of the person to whom the gift was made is subject to a restraint order or charging order; and
(b)any order made under either of those sections after the conclusion of the proceedings shall take into account any realisation under this Part of this Act of property held by the person to whom the gift was made.
(7)In any case in which a petition in bankruptcy was presented, or a receiving order or adjudication in bankruptcy was made, before 29th December 1986 (the date on which the M5Insolvency Act 1986 came into force), this section shall have effect with the following modifications—
(a)for references to the bankrupt’s estate for the purposes of Part IX of that Act there shall be substituted references to the property of the bankrupt for the purposes of the M6Bankruptcy Act 1914;
(b)for references to the Act of 1986 and sections 280(2)(c), 286, 339 and 423 of that Act there shall be respectively substituted references to the Act of 1914 and to sections 26(2), 8, 27 and 42 of that Act;
(c)the references in subsection (5) to an interim receiver appointed as there mentioned include, where a receiving order has been made, a reference to the receiver constituted by virtue of section 7 of the Act of 1914; and
(d)subsection (2)(b) shall be omitted.
Extent Information
E2This version of this provision extends to Scotland only; a separate version has been created for England and Wales only.
Textual Amendments
F4Words substituted by Housing Act 1988 (c. 50, SIF 61), s. 140, Sch. 17 para. 83
F5Words inserted by Housing Act 1988 (c. 50, SIF 61), s. 140, Sch. 17 para. 83
Marginal Citations